State Capital Corp.

June 21, 1985|By Deanne Brandon

UPDATE. A federal bankruptcy judge has scheduled a hearing Saturday to consider a report highly critical of State Capital Corp. The Boca Raton mortgage brokerage, which has filed for protection from creditors under the federal bankruptcy code, took in $47 million from 2,300 Florida investors and has been accused of fraud in civil lawsuits brought by the Florida comptroller's office. The report on State Capital and 11 affiliates was prepared by Tampa accountant Logan Browning, who agreed with many of the comptroller's allegations. Recommended: That a trustee be appointed to replace the companies' management. Saturday's hearing: 9 a.m. in Room 703, 700 Twiggs Street, Tampa.